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What is the main difference between the structural functionalism and conflict theory perspectives?
Theory of Constraints
A management philosophy focused on identifying and managing bottlenecks that limit a system's performance, effectiveness, or profit potential.
Product Cost Distortion
When the actual cost of a product is inaccurately allocated, leading to misleading cost information and potentially flawed pricing decisions.
Sunk Cost
Costs that have already been incurred and cannot be recovered or changed, and should not affect future business decisions.
Differential Analysis
The process of comparing the differences in cost and revenue between different business decisions or scenarios to help in decision making.
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